Thimar says deadline extension for financial restructuring proposal requested, hearing set on Oct. 20

A Thimar branch

National Agricultural Marketing Co. (Thimar) announced it was notified by the secretary of financial restructuring today, Oct. 7, that a request was submitted to the court to extend the deadline for the period granted for financial restructuring.

The company was also notified by the Commercial Court in Riyadh that a hearing will be held on October 20 to consider the request, according to a bourse filing.

Thimar added that any significant developments in this regard will be announced in due course.

The company announced in April that the Commercial Court in Riyadh issued a decision to open the procedures for financial restructuring, according to Argaam's data.

The company said on April 29 it has 150 days to prepare the financial restructuring proposal. It also appointed Hani bin Saleh Al-Aqili as a trustee to carry out the financial restructuring measures.